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Islamic finance and its come back after the last economic crash

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Le
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General public
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literature
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London

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documents in English
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Type
case study
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4 pages
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  1. Introduction
  2. Impact on Islamic finance and its come back
  3. Islamic finance
  4. Islamic finance and its come back after the last economic crash
  5. Conclusion

The economic crash took place between 2007 and 2008. It originated from the United States. It is the worst economic crisis that has ever hit the world up to today. It has become a global issue, hitting economies in all countries. It has led to the fall or decline in the economies, markets and institutions that are recognized as the core to the global financial system (Mizanur, 2014). It has badly damaged well established financial institutions like Citibank, AIG and Lehman Brothers which are termed to be too big to fail. However, signifant financial institutions in the Islamic countries continue to show growth over the years. Even with the crisis that has faced many economies, Islamic finance is sheltered from the global crisis. Islamic financial assets increased from $600 billion to $1.3 trillion between 2007 and 2012. Top Islamic banking and financial institutions have continued to grow economically, though slow, of around 30 percent from 2008 onwards (Mizanur, 2014). Islamic banks that operate within Gulf Corporation Council countries maintain their work base or even recruit more workers. Islamic banks such as Dubai Islamic bank, Al-Rajhi Bank, Maybank Islam and Kuwait Finance House continue to grow steadily.

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